Commsec US Mid 14 Nov 172:24

GE looking ot sell off up to US$20Billion in non core assets and cut dividend in half.
Banks slight recovery from early falls with tax concerns still on the horizon. Credit: Commsec

November 14th 2017

9 months ago

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Pro-EU demonstrators in London. Picture: Tolga Akmen/AFPSource:AFP

THE Australian share market looks set to open lower, ignoring the positive sentiment emerging in late afternoon trading sentiment on Wall Street. At 0700 AEDT on Tuesday, the share price futures index was down 19 points, or 0.31 per cent, at 6,015.

Meanwhile, the Australian dollar, with little news to give it impetus, has continued to slide against its steady US counterpart. The local currency was trading at 76.25 US cents at 0700 AEDT on Tuesday, from 76.61 on Monday.

WORLD FINANCE UPDATE:

BRUSSELS — European Union foreign ministers have approved economic sanctions including an arms embargo on Venezuela, saying regional elections last month marred by reported irregularities have deepened the country’s crisis.

BERLIN — The European Parliament’s president says he believes Britain should pay at least 60 billion euros ($A98 billion) as it leaves the European Union to meet its financial commitments.

NEW YORK CITY — General Electric Co will radically shrink to focus on aviation, power and healthcare, betting on sectors it thinks it can make profits in, as the most famous US conglomerate tries to revive its share price after a decade and a half of stagnation.

LONDON — Bitcoin’s value has surged, recovering more than $US1000 ($A1,400) after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency.

ZURICH — The next World Economic Forum of world leaders and chief executives in Davos will be chaired by women including International Monetary Fund director Christine Lagarde, Norwegian Prime Minister Erna Solberg and IBM’s chief executive Ginni Rometty.

MONDAY HIGHLIGHTS:

NINE — Nine Entertainment has flagged a better-than-expected start to the year, with chief executive Hugh Marks saying ad revenue and market share for the network have both performed well.

ELDERS — Agribusiness Elders has paid shareholders a dividend for the first time since 2008 as the company more than doubled its reported net profit for fiscal 2017.

MEDIBANK — Private health insurer Medibank Private is set to reduce its investments in carbon-intensive industries in recognition of the adverse impacts that climate change have on human health.

ADELAIDE BRIGHTON — Cement and masonry supplier Adelaide Brighton is investigating some transactions which may have hidden customer underpayments for supplied products.

CBA FAST FOOD — Australians spend around $230 every month on fast food and restaurant dining on average, new figures show, but how often they eat out and how much they spend depends a lot on their age.

HOUSING PRICES — Sydney home prices have again fallen while Melbourne’s have remained flat, but the national auction clearance rate last week was better than the previous week’s.